| Inverness Medical Innovations, Inc. Extends Exchange Offer for 7.875% Senior Notes due 2016 (PR Newswire) Inverness Medical Innovations, Inc. announced today that it has extended its offer to exchange up to $100,000,000 in aggregate principal amount of 7.875% Senior Notes due 2016 that have been registered under the Securities Act of 1933, as amended, for a like principal amount of its outstanding unregistered 7.875% Senior Notes due 2016, to 5:00 p.m., New York City time, on Friday, June 4, 2010, unless further extended. us.rd.yahoo.com |
Jury Still Out on Exelixis's Long Term Potential Ohad Hammer submits:Exelixis (EXEL) came under a lot of pressure recently and the stock is now trading near its 52 week low following two unrelated events that took place last month. In late June, the company announced the resignation of its CEO, George Scangos, who was appointed as Biogen Idec’s (BIIB) CEO. Earlier that month, the company announced BMS (BMY) decided to give back rights for Exelixis’ flagship product, XL184. Adding to the pressure are interesting but not stellar clinical results for some of the company’s compounds at ASCO and potentially an additional partnership termination. With respect to future development of XL184, Exelixis is in a delicate position. On the one hand, it would like the drug to have an aggressive development program, which requires a large partner. On the other, it might want to wait until it generates more data, due to the bad sentiment around a compound that has been abandoned twice by two large pharmas (BMS and GSK). XL184 faces some meaningful potential value creation events in the coming 12 months, including data that could support FDA approval in a niche indication. The company will therefore have to find the optimal point in time for a licensing deal that will not slow down the development process while enabling it to increase the value of the compound.Complete Story » seekingalpha.com |
FDA Issues Warning On Anti-Seizure Drug The FDA said Glaxo's Lamictal, used to treat seizures in children, can cause aseptic meningitis, an inflammation of the protective membranes that cover the brain and spinal cord. online.wsj.com |
Spherix Announces Statistically Significant Results in Phase 3 Study With D-tagatose in Type 2 Diabetes [PR Newswire] - Spherix Incorporated , an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis; and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today announced that its Phase 3 study of D-tagatose as a monotherapy in Type 2 diabetes showed a statistically significant reduction in HbA1c levels of 0.4% at 10 months in relatively healthy people with diabetes *. Â The reduction was even more pronounced among PP patients treated in the U.S., and the reduction in HbA1c generally increased over the 10 months patients were treated . us.rd.yahoo.com |
Biogen Profit Drops 8.5%; MS Drugs Help Revenue Biogen Idec's third-quarter earnings dropped 8.5%, weighed down by charges, as revenue rose 5% on continued growth of the company's core multiple-sclerosis franchise. online.wsj.com |